Infosys Knocked Off PMC Bank's CBS Shortlist
Punjab and Maharashtra Co-operative Bank Limited (PMC), has entered the last stage of short listing a Core Banking Solution (CBS) for its 17-branch network, with four vendors making it to the grand finale.
Starting of with an eight vendor list, four have been knocked off - Infy’s heavyweight champion Finacle reportedly being one of the losers.
Speaking to CXOtoday, Gurjinder Singh, Head-IT, Punjab and Maharashtra Co-operative Bank, said, We have entered into an advanced stage of selecting a vendor for the CBS, and the four names on our shortlist are i-flex, TCS, InfraSoft Technologies, and Kensoft. The implementation will involve a rework of our database as well, which is currently on Cobalt Btrieve. An upgrade to either Oracle or DB2 will be carried out eventually, and the cost will definitely be a deciding factor between the two.
The management will decide the quantity of data that will have to be migrated to the new database, as the bank’s history dates back to 1984. Oracle looks like the strongest contender for the database, as far as applications are concerned. The CBS will revolutionize processes at the bank, as there is no interconnection between the central office and the branches yet. Currently only ATM’s are connected to the bank’s central server, and financial transactions are routed to their respective branches.
It will take approximately 5-6 months for the first pilot branch to go live, and thereafter, one branch will be mapped on the CBS every fortnight. We will select a mid-sized branch for the pilot test phase. The CBS will also involve the purchase of at least one powerful central server, and around 2-3 application servers. We have narrowed down RISC based servers, and will choose between IBM, Sun and HP on the basis of service and support, Singh added.
The bank has approximately 200 IBM desktops for administrative tasks, all running Microsoft Windows. Due to the lack of expertise, there has bee very minimal use of Open Source technologies at the bank, Singh confessed.
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